4. Net zone Company is in semiconductor industry and fabrication of silicon-wafer chips splits off two types of memory chips, Standard and Premium. The following information was collected for last quarter of the calendar year: Direct materials processed: 200 kgs (Both standard and premium chips weigh 10 grams each) Production: Standard 10,000 chips Premium 6,500 chips Sales: Standard 9,500 at $100 per chip Premium 6,000 at $170 per chip The cost of purchasing 200 kgs of direct materials and processing it up to the split off point to yield a total of 16,500 chips of good products was $1,950,000. Allocate joint costs using the sales value at split off and calculate the gross profit percentage